China’s economic slowdown is causing alarm around the world, but President Xi Jinping’s government may be willing to go only so far to limit the damage.
Beijing on Tuesday announced 1.3 trillion yuan ($193 billion) worth of new measures designed to stimulate the economy, including tax cuts for small businesses and reduced tariffs. It’s the latest in a flurry of government efforts to prop up growth in recent months, such as boosting infrastructure spending and looser monetary policy.
Experts question whether Beijing’s measures will be enough to stimulate the economy.
“It’ll take a lot more to pull China out of what feel